EU "90% of Russian Crude Oil Imports to be Halted by the End of This Year"

Hungary Welcomes EU's Partial Ban on Russian Crude Oil

On the 30th (local time), smoke rises from shelling by Russian forces in Severodonetsk, a strategic point in the Donbas region of eastern Ukraine.
[Image source=Yonhap News]

[Asia Economy Intern Reporter Kim Nayeon] Heads of state of European Union (EU) member countries have agreed to ban imports of 90% of Russian crude oil currently being imported by the end of the year. They decided to reduce total imports by 90% by the end of the year.

According to major foreign media, Charles Michel, President of the EU Summit, recently announced that EU leaders held a meeting in Brussels, Belgium, and agreed on this measure.

According to President Michel, about two-thirds of the Russian oil imported by Europe is imported by sea. He said, "This will strike at the funding source that covers the costs of the Russian war."

The remaining one-third of Russian oil imports are supplied overland through the Druzhba pipeline. The Druzhba pipeline passes through Belarus and extends to Poland, Germany, Hungary, Slovakia, and the Czech Republic.

Foreign media reported that EU leaders, except for Hungary, agreed to reduce Russian oil imports by 90% by the end of the year. Hungary has opposed the crude oil embargo plan, citing a 65% dependence on Russian crude oil.

Meanwhile, on the 31st (local time), the Hungarian Prime Minister welcomed the European Union's (EU) decision to allow continued imports of cheap Russian crude oil.

According to foreign media, Prime Minister Orb?n said in a video message posted on his Facebook, "Everyone can sleep peacefully tonight," and added, "Countries receiving crude oil through the pipeline have agreed to maintain the current conditions."